Wine prices shoot up by 7%

 In Inflation, News, Wine

The average price of a litre of wine sold in Portugal in he first half of the year increased both in restaurants and retail outlets in the first half of 2023 by a total average of 7%.

The reason is that production costs have risen in Portugal which in some wine growing regions of the country doubled.
This is according to figures released by the Portuguese Institute of Vineyards and Wine (IVV) based on data collected by Nielsen. Price increases for the sale of wine in H1 went up by 4.8% on average in distribution (off-licences and supermarkets) and 2.9% in restaurants and affected practically all regions of Portugal.
In the Dão wine growing region in the north of Portugal alone prices rose by as much as 19.7%, followed by the wine area Terras de Cister on he border between the Douro and Dão regions where sales were up by as much as 18.1%.
Two digit increases were also seen in the wine growing regions of the Minho (+13.6%) and in the Tejo (+11.6%).
All told, according to data for the national market to June, the price per litre of wine was €4.14 when a year ago it was €3.87 for the same period – the highest prices since 2016.
In distribution, the average price was €2.72 while in restaurants it was €7.11. Looking at the price of certified wine alone which increased 8.8% on average across the board, wine in supermarkets was 5% dearer to €4.17 while in restaurants it was up 6.5% to an average price of €11.87.